The civil liability of credit rating agencies in South African law: recent developments in comparative perspective

Thompson, Simon

The civil liability of credit rating agencies in South African law: recent developments in comparative perspective

Master Thesis

2013

Publisher

University of Cape Town

Department

Department of Commercial Law

Faculty

Faculty of Law

Abstract

The losses caused by the on-going financial crisis now exceed $4 trillion. This is in addition to the associated social and economic costs that are more difficult to measure. From a litigator’s perspective it is not surprising that these massive losses have triggered a very large number of civil claims. In the immediate aftermath of the crisis these claims were mostly run-of-the-mill misrepresentation actions by investors against their investment advisors, but there is now a clear, global trend where plaintiffs are casting their nets more widely and going after the financial actors allegedly responsible for the crisis itself. One class of defendants who fit squarely in this category are credit rating agencies. These financial actors are facing a global push by lawmakers to regulate their operations with, inter alia, the express aim of setting parameters for the liability ratings agencies should incur in the publication of ratings.

Description

Includes bibliographical references

Reference:

Collections

Masters

Full item page